Penn State: $59.7 million to settle claims

University Park, PA (SportsNetwork.com) - Penn State said Monday it has agreed
to pay $59.7 million to settle 26 claims of sexual abuse by Jerry Sandusky.

Terms of the settlements were kept confidential, but the university said 23 are fully signed and three others are agreed to in principle and are expected to be finalized in the next few weeks.

"We hope this is another step forward in the healing process for those hurt by
Mr. Sandusky, and another step forward for Penn State," Penn State president
Rodney Erickson said in a statement.

"We cannot undo what has been done, but we can and must do everything possible
to learn from this and ensure it never happens again at Penn State."

Sandusky was found guilty in June 2012 on 45 of 48 counts charging the former
assistant football coach of sexual abuse against 10 boys over 15 years.

The university received claims from 32 people alleging abuse by Sandusky. Of
the other six, some were rejected as being without merit and some are being
considered for possible settlements, the university said.

Penn State believes liability insurance policies will cover the cost of the
settlements. The university said none of the money will come from student
tuition, taxpayers or donations.

Sandusky's arrest, trial and conviction cast a pall over Penn State and the
surrounding area linked so firmly to the university and rocked the football
program, leading to the firing of longtime head coach Joe Paterno and heavy
NCAA sanctions.

Sandusky, 69, has always maintained his innocence. His appeal for a new trial
was denied earlier this month by a Pennsylvania Superior Court panel.